Stratistics MRC report, Bulk Container Packaging Market Forecasts to 2028 – Global Analysis Application, Key Players, Types, End User and By Geography
GAITHERSBURG, MARYLAND, UNITED STATES, November 8, 2021 /EINPresswire.com/ — According to Stratistics MRC, the Global Bulk Container Packaging market is accounted for $3.65 billion in 2020 and is expected to reach $8.97 billion by 2028 growing at a CAGR of 11.9% during the forecast period. Some of the key factors propelling the market growth include increasing use of flexitank among regional end-user industries, growing export of bulk container packed products, increasing transportation of oils and other materials in bulk across the globe, increasing export of food products and pharmaceuticals materials, and rising exploration of dry or free-flowing chemicals and agricultural products worldwide. However, growing environmental concerns over the use of plastic is restraining the market growth.
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The Global Bulk Container Packaging Market is majorly driven by increasing export of bulk container packed products, rising exploration of dry or free-flowing chemicals and agricultural products worldwide, and growing demand from food & beverage and chemical industry. The flexi tanks segment is growing at a highest CAGR owing to the efficiency and effectiveness associated with such tanks, increased industrial manufacturing and effective transport, and utility of flexitanks in shipping wine, food grade liquids, oil, and nonhazardous chemicals. North America dominated with a significant market share due to growing corn, oilseeds, grains such as soybean, feeds demand from the U.S. and rising growth in the chemical industry owing to the newfound shale resources. Asia Pacific market is growing at a highest CAGR owing to increasing population mainly in China and India, rising demand for aforesaid food products in the region, improving customer lifestyle, and increasing disposable income in the region.
Some of the key players in Bulk Container Packaging Market include Sealed Air Corporation, DS Smith Plc, International Paper Company, Hoover Ferguson Group, My Flexitank Industries Sdn Bhd, Schuetz GmbH & Co. KGaA, SIA Flexitanks Limited, Greif, Inc., Berry Global, Inc., Winpak Ltd, BAG Corporation, Braid Logistics (UK) Limited, Qingdao LAF Packaging Co. Ltd., Mondi Group, Bemis Company, Inc. , Mauser Group B.V, Snyder Industries, Inc, and Bulk Lift International, Inc.
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